Real estate developers to invest Rs 4,500 crore in GIFT project

Gujarat International Finance Tech-City (GIFT) project is being developed as one of the first smart city. The project is coming up near Gandhinagar in the state of Gujarat. Leading real estate companies like Brigade Group, Hiranandani and BU Bhandari Landmarks have committed investment to the tune of Rs 4,500 crore in developing residential and commercial properties within the GIFT project. Bangalores Brigade Group plans to develop 12.8 lakh sq ft of which only two lakh square feet will be residential. Mumbai-based Hiranandani Developers Pvt Ltd plans to develop three lakh sq ft of commercial space in the SEZ area of the GIFT city.